Kaiser Aluminum (NASDAQ:KALU) Shares Gap Down to $118.35

Kaiser Aluminum Co. (NASDAQ:KALU)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $118.35, but opened at $112.70. Kaiser Aluminum shares last traded at $109.92, with a volume of 269 shares trading hands.

KALU has been the subject of several recent analyst reports. JPMorgan Chase & Co. initiated coverage on Kaiser Aluminum in a research report on Friday, April 23rd. They set a “neutral” rating and a $124.00 target price for the company. TheStreet cut Kaiser Aluminum from a “b-” rating to a “c” rating in a research report on Wednesday, May 12th.

The company has a market cap of $1.67 billion, a P/E ratio of 420.48 and a beta of 1.30. The stock’s fifty day moving average price is $126.08. The company has a quick ratio of 1.56, a current ratio of 2.66 and a debt-to-equity ratio of 1.14.

Kaiser Aluminum (NASDAQ:KALU) last announced its earnings results on Tuesday, July 20th. The industrial products company reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($1.27). Kaiser Aluminum had a return on equity of 3.70% and a net margin of 0.38%. The firm had revenue of $741.00 million during the quarter, compared to the consensus estimate of $474.02 million. During the same period in the prior year, the company posted $0.36 EPS. The firm’s revenue was up 168.8% on a year-over-year basis. On average, equities analysts anticipate that Kaiser Aluminum Co. will post 7.66 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 13th. Investors of record on Friday, July 23rd will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend is Thursday, July 22nd. Kaiser Aluminum’s dividend payout ratio (DPR) is presently 95.68%.

In other Kaiser Aluminum news, SVP Ray Parkinson sold 1,343 shares of the stock in a transaction on Tuesday, May 18th. The stock was sold at an average price of $130.48, for a total transaction of $175,234.64. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Jack A. Hockema sold 3,000 shares of the firm’s stock in a transaction on Monday, May 24th. The stock was sold at an average price of $125.32, for a total value of $375,960.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,203 shares of company stock valued at $1,185,238. 1.20% of the stock is owned by corporate insiders.

Hedge funds have recently modified their holdings of the company. Oregon Public Employees Retirement Fund raised its stake in Kaiser Aluminum by 1.6% in the first quarter. Oregon Public Employees Retirement Fund now owns 6,392 shares of the industrial products company’s stock worth $706,000 after buying an additional 100 shares in the last quarter. Prudential Financial Inc. boosted its holdings in Kaiser Aluminum by 0.8% in the first quarter. Prudential Financial Inc. now owns 18,870 shares of the industrial products company’s stock valued at $2,085,000 after purchasing an additional 143 shares during the last quarter. First Trust Advisors LP boosted its holdings in Kaiser Aluminum by 5.2% in the first quarter. First Trust Advisors LP now owns 4,288 shares of the industrial products company’s stock valued at $449,000 after purchasing an additional 211 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in Kaiser Aluminum by 2.4% in the second quarter. State of Alaska Department of Revenue now owns 10,960 shares of the industrial products company’s stock valued at $1,353,000 after purchasing an additional 257 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its stake in shares of Kaiser Aluminum by 3.5% during the 1st quarter. Squarepoint Ops LLC now owns 8,654 shares of the industrial products company’s stock worth $956,000 after acquiring an additional 293 shares in the last quarter. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

About Kaiser Aluminum (NASDAQ:KALU)

Kaiser Aluminum Corporation manufactures and sells semi-fabricated specialty aluminum mill products. The company provides rolled, extruded, and drawn aluminum products used principally for aerospace and defense, automotive, consumer durables, electronics, electrical, and machinery and equipment applications.

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